FFG Acquires MAG Group

The International Fair Friend Group (FFG) signed an agreement June 17 to acquire all shares of MAG IAS GmbH. According to European Tool & Mould Making, the agreement is the result of a longstanding relationship between FFG Chairman Jimmy Chu, MAG owner Mo Meidar and CEO Dr. Reiner Beutel.

The companies say that they expect to close the transaction before October 2015 in time for the EMO trade fair in Milan, Italy.

This move follows FFG’s acquisition of the MAG Group’s Industrial Equipment segment in 2013. That group of businesses has reportedly profited from the integration in the two years since.